The results of a new study indicate that being able to use technology provides UK small firms with a competitive edge, as three out of every four state that it has made them more efficient.

This research by Hitachi Capital Business Finance found that 76% of smaller firms in the UK had made use of technology solutions to run more efficiently during the past 12 months. Among firms that have experienced some business growth as a result, the percentage rises to 84%, while for those that are expecting major growth due to the introduction of new tech, it is 91%.

This indicates that making use of relevant tech has provided many small firms with greater business confidence during an unsettling 18 months. This is similar to the way that putting their financial management in the hands of accountants in Goole or wherever they are based can reassure small firms during difficult periods.

It marks a big shift compared with the period before Covid-19, with studies at that time showing that 30% – nearly one third – of small firms in the UK believed that their lack of digital grasp was holding them back.

The adoption and mastery of tech business solutions has been driven by need due to the lockdowns, but the 1,232 small firms that took part in the study show definite regional differences. London is the area with the highest rates of small business tech adoption, at 86%, while the North West is lowest, at 64%.